Rappi Secures $100 Million Loan From Santander, Private Credit

Rappi Inc., one of Latin America’s most valuable startups, secured a $100 million loan from Banco Santander and Kirkoswald Capital Partners, marking its largest debt financing since the Colombian delivery startup’s founding a decade ago.

The four-year senior secured facility will support refinancing and working capital needs as Rappi looks to expand in the region’s competitive delivery market, the company said in a statement.